Dearness Allowance Hike News Today (28 September): Ahead of Diwali and Dussehra 2022, the DA hike announcement for Central Government Employees has been made by Union Cabinet today. Employees will get an additional 4% interest with effect from 1 July 2022. The effective new rate of DA now would be 38%.
The rate of Dearness Relief (DR) has also been increased by 4% to 38% for Central Government Pensioners. The Government has decided to increase the DA rate of Central Government employees by 4%. The additional instalment of Dearness Allowance and Dearness Relief to central government employees and pensioners will be provided with effect from July 1, 2022. The DA/DR hike will benefit about 41.85 lakh central government employees and 69.76 lakh pensioners.
For the last several weeks, Central Government Employees were expecting the Union government to increase their Dearness Allowance (DA) rate by 4%. The employees of the Central Government will now get 38% of their basic salary as DA. The decision on the DA hike was taken by the Government during the meeting of the Union Cabinet led by Prime Minister Narendra Modi.
Dearness Allowance Hike Notification for Central Government Employees, Dearness Relief (DR) Hike for Pensioners under 7th Pay Commission - All you need to know today
The Union Cabinet said that the additional financial implications on account of this increase of Dearness Allowance to Central Government employees are estimated at Rs.6,591.36 crore per annum; and Rs.4,394.24 crore in the financial year 2022-23 (i.e. for a period of 8 months from July, 2022 to February, 2023).
The additional financial implications on account of this increase of Dearness Relief to pensioners are estimated at Rs.6,261.20 crore per annum; and Rs.4,174.12 crore in the financial year 2022-23 (i.e. for a period of 8 months from July, 2022 to February, 2023).
The combined impart on the exchequer on account of both Dearness Allowance and Dearness Relief would be of the order of Rs.12,852.56 crore per annum; and Rs.8,568.36 crore in the financial year 2022-23 (i.e. for a period of 8 months from July, 2022 to February, 2023). (Source: PIB)
In a statement, the Union Cabinet said: “The Central Government employees and pensioners will become entitled to higher amount of Dearness Allowance and Dearness Relief respectively, w.e.f. 01.07.2022.”:
“The Cabinet, chaired by Prime Minister, Narendra Modi, has approved the release of additional instalment of Dearness Allowance and Dearness Relief @ 4% to Central Government employees and pensioners due from 01.07.2022 based on the percentage increase in 12 monthly average of All India Consumer Price Index for the period ending June, 2022,” Cabinet said.
The announcement of DA hike for Railway Employees will also be made soon, expectedly before Dussehra, Union Railway minister Ashwini Vaishnav today said.
“Cabinet approves release of additional instalment of Dearness Allowance and Dearness Relief @ 4% to Central Government employees and pensioners, due from 01.07.2022,” Union Minister Anurag Thakur said in a media briefing.
It's official! DA hike announcement for Central Government Employees has been made. Employees will get an additional 4% interest with effect from 1 July 2022. The effective new rate of DA now would be 38%.
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With inflation already reaching higher than the RBI estimates, the DA/DR hike has become important for Central Government Employees and Pensioners. If the Basic Salary/Pension is Rs 25,000, the DA/DR at 38% rate will be Rs 9500. At 34% rate, DA/DR amount is Rs 8500. This means salary will increase by Rs 9500-Rs 8500 = Rs 1000. Read Full Story
Several media reports today claimed that the Central Government has decided to increase the rate of employees' DA by 4% to 38%. The clarity on this matter may come after the Cabinet briefing to be held at 3 pm.
Last week, Government said a fake circular on the DA hike was being circulated on social media.
7th Pay Commission latest News 28 Septemebr 2022: Here's all you need to know about Dearness Allowance Hike Notification for Central Government Employees and Dearness Relief (DR) Hike for Pensioners under 7th Pay Commission - All you need to know Today (Live Updates)